Calgary Home Prices are Holding Just Fine.

Wages and home prices are sticky – economically speaking. No one wants to work for  less than they did yesterday or sell their home for less either. So the prices hold.

Today, any busy real estate agent will tell you the home market for anything less than $450 – 500k is moving quickly if priced correctly. $500 – 750k is slower and above $750k is very slow. This all makes perfect economic sense. Read More

Numbers on why this recession is not that bad

All recessions are tough – but the sky is not falling. Below is one of the better articles we have seen on why this one will not be that bad.

Mortgage Mark Herman,

Calgary Alberta mortgage broker for home purchase and mortgage renewal.

Only two recessions in Calgary since 1987 and both more severe than 2015 forecast

 Mario Toneguzzi, Calgary Herald
More from Mario Toneguzzi, Calgary Herald
Published on: September 28, 2015 | Last Updated: September 28, 2015 3:42 PM MDT

While Calgary’s economy has been sluggish this year and most experts are forecasting a recession, it will be a mild one compared with what the city has gone through in the past. Read More

4 Reasons Canadian Mortgage Rates Are Going to go up Soon

Here is a great summary of what is causing mortgage rates to be nosing up in the near future. They really should have gone up by now but the anticipated “Spring housing market rush” competition with the banks is holding them down.

Mark Herman, top Calgary, Alberta mortgage broker for home purchases and mortgage renewals

The latest round of economic data has real-estate watchers returning their focus to interest rates.

  1. Activity in the bond market and the latest employment numbers are fueling predictions there will be a bump in fixed-rate borrowing costs in the near future.
  2. Employment improvements are generally seen as a harbinger of inflation. That, along with other domestic and international considerations, is pushing up government bond yields, which in turn drive fixed mortgage rates.
  3. There is also the notion that the big, trend-setting lenders will be looking to move rates up to bolster profits.
  4. As well, Bank of Canada Governor Stephen Poloz has hinted he might be willing to let inflation run in order to avoid hiking the policy rate. That would also put upward pressure on government bond yields.

The graph we watch to show us this is here: Read More